Client Introduction

Winton is a residential land developer that specialises in developing integrated and fully masterplanned residential and retirement living neighbourhoods in New Zealand and Australia.

Problem / Opportunity

Winton required capital to execute its growth plans of further land development of innovative residential communities across New Zealand as well as the development of its Northbrook retirement living business. With a strong pipeline of 28 long term projects underway in New Zealand and one in Australia and an early stage premium retirement living business, Winton required an adviser that understood how to value the business, formulate an appropriate equity story and search for a suitable investment partner that shared the long term vision.


Grant Samuel assisted Winton with raising NZ$350m in a dual-listing (ASX/NZX) IPO, with a NZ$200m commitment from Macquarie Asset Management and over NZ$100m from high-net-worth individuals. Grant Samuel led a multi-track process for Winton, anchored by substantial market education which developed a compelling positioning and valuation thesis for public and private investors.

Key outcomes and benefits

  • Grant Samuel’s multi-track approach which explored a fully-marketed IPO, a tightly-cornerstoned IPO, private partnerships and debt financing alternatives delivered tangible optionality, redundancy and significant value-uplift for Winton
  • Strong support from Macquarie Asset Management as cornerstone investor, resulted in a significantly de-risked and highly truncated bookbuild process
  • Grant Samuel’s deep understanding of the business and valuation work led to a premium valuation outcome


I have one little piece of advice for anyone thinking of listing their company on the ASX or NZX or both… and that is simply to ring Grant Samuel in Sydney. They should be your first call, they need to be by your side, holding your hand the whole way through. We are very grateful, we couldn’t have done this without you and I honestly, genuinely believe without your involvement we wouldn’t be standing here listing today.

Chris Meehan, Founder and CEO